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Australia’s central bank is in “data-dependent mode” when it comes to the prospects for further interest-rate increases, Governor Philip Lowe said, shortly before monthly data showed inflation heating up again.
Australian inflation accelerated, snapping three months of easing, sending government bond yields higher as traders fretted about potentially another interest-rate increase next week.
Now that all major Canadian banks have released their most recent quarterly earnings, one analyst said he is concerned about the health of Canada’s housing market due to the impact it could have on consumers.
Record net migration into the UK drove property rental costs up by as much as 7% and could be behind the manic market facing tenants in London, according to economists at Capital Economics.
Home prices rose for a second straight month as buyers returning to the market competed over few homes for sale.
Jan 22, 2019
The Canadian Press
OTTAWA -- Finance Minister Bill Morneau says the federal government is looking at ways to make home-buying more affordable for millennials.
Following a speech today north of Toronto, Morneau made the comment when he was asked if Ottawa has any plans to help first-time buyers enter the housing market at a time of rising interest rates.
Housing is expected to be a campaign issue ahead of October's federal election -- on Monday, NDP Leader Jagmeet Singh proposed measures he says will help build 500,000 new affordable housing units across Canada over the next 10 years.
Morneau says the Liberal government has focused on three primary housing-related issues since coming to office in 2015: Canada's shortage of affordable housing, a run-up in real-estate prices in some markets and ensuring millennials can afford homes.
He says Ottawa has already taken steps to increase the supply of affordable housing and to ease hot markets by introducing stress tests to limit people's ability to take out big mortgages.
Morneau says the challenge of helping millennials enter the housing market is now the priority and that there's multiple things the government is examining -- but he didn't elaborate on what measures are on the table.
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